I have quite a few of these and I believe it to be a potential multibagger for 2008. Not sure to what extent the Opes Prime and Lift Capital debacles have influenced the trading, but I seem to recall that BOW was listed as an exposure by one of them. I have a low-ball bid in in case of a sell-off, but that hasn't been evidenced much to date. However, I do sense that scrip is being drip fed to the market and defacto capping the price around 20cents.
The main game is Don Juan gas field and assuming reasonable results from the current round of testing the SP could take off around the 3rd quarter IMO. In the meantime the wild cards of Cuisinier and Hudson could lead to earlier improvement. We are cashed up now with about 6cents per share of cash by my calcs and ample to fund the programs underway.
BOW could easily be a takeover target for its Don Juan gas and would be a small outlay for a player like Santos, so the issue is don't be out of the stock going forward.
regards DF
BOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
